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To: waverider who wrote (9305)	1/22/1998 7:35:00 PM
From: JZGalt	Read Replies (1) \| Respond to of 95453

The Delta of the option is a measure of how much it moves with the underlying equity. The more time involved before expiration the _lower_ the delta. The option doesn't move anywhere near as much as the stock. Near term options at or near the money move with a delta of close to 1.0 meaning the move in the stock is mirrored by the option. Delta is calculated by some providers of options quotes. Stocksmart used to have this, but now they are a for pay site. ---- Dave

To: waverider who wrote (9305)	1/22/1998 8:23:00 PM
From: Rob Hinton	Read Replies (1) \| Respond to of 95453

All: If you want to understand options there is only one book to get: Options as a Strategic Investment by Lawrence G. McMillan It is considered the definitive bible of the options crowd. He covers all the basics plus repairs to positions. This is critical these days. You need to have options as a tool to continue lowering your cost basis in a stock as well as generating additional premium income. It's long, theoretical and smells of your college math texts (sorry Teddy - you'll be there soon) but it will save your tail over and over again. Est. price $45.00. Amazon.com or his web site. Good reading... Rob